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The Employee Retirement Income Security Act of 1974
(ERISA) is a federal law that sets minimum standards for most voluntarily
established pension and health plans in private industry to provide protection
for individuals in these plans.
ERISA requires plans to provide participants with
plan information
including important information about plan features and funding; provides
fiduciary
responsibilities for those who manage and control plan assets; requires
plans to establish a grievance and appeals process for participants to get
benefits from their plans; and gives participants the right to sue for benefits
and breaches of fiduciary duty.
There have been a number of amendments to ERISA,
expanding the protections available to health benefit plan participants and
beneficiaries. One important amendment, the
Consolidated Omnibus Budget
Reconciliation Act (COBRA), provides some workers and their families with
the right to continue their health coverage for a limited time after certain
events, such as the loss of a job. Another amendment to ERISA is the
Health Insurance Portability
and Accountability Act (HIPAA) which provides important new protections for
working Americans and their families who have preexisting medical conditions or
might otherwise suffer discrimination in health coverage based on factors that
relate to an individual's health. Other important amendments include the
Newborns' and Mothers' Health Protection Act, the Mental Health Parity Act, and
the Women's Health and Cancer Rights Act.
In general, ERISA does not cover group health plans
established or maintained by governmental entities, churches for their
employees, or plans which are maintained solely to comply with applicable
workers compensation, unemployment, or disability laws. ERISA also does not
cover plans maintained outside the United States primarily for the benefit of
nonresident aliens or unfunded excess benefit plans.
DOL Web Pages on This
Topic
Compliance
Assistance Provides publications and other materials to assist employers
and employee benefit plan practitioners in understanding and complying with the
requirements of ERISA as it applies to the administration of employee pension
and welfare benefit plans.
Consumer Information on
Health Plans Provides fact sheets, booklets, and other health plan
information from the Department's Employee Benefits Security Administration
(EBSA).
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